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Froggy Jumps
Froggy Jumps

Economics Essentials Quiz

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Economics Essentials Quiz

Froggy Jumps

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Key econ concepts

Created by

Apollo Asuncion
Apollo Asuncion
Philippines

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Economics Essentials Quiz
 

Froggy Jumps

Economics Essentials QuizOnline version

Key econ concepts

by Apollo Asuncion
1

What is the central idea of economics in one sentence?

2

Which term describes the value of the next best alternative forgone?

3

Wants are unlimited; resources are limited. This creates what?

4

What market mechanism pairs buyers with sellers at a given price?

5

Demand refers to the quantity buyers are willing to purchase at a given...

6

Which factor shifts the demand curve for a good?

7

GDP measures the total value of...

8

Inflation is a rise in the overall level of what?

9

A market in which there is perfect competition is characterized by?

10

What is the study of economies at a national scale called?

11

An economy that allocates resources through government planning is…

12

Fiscal policy involves government decisions on...

13

Monetary policy primarily uses what tool to influence the economy?

14

Comparative advantage explains why countries engage in what?

15

Which type of good is consumed together with another (complement)?

 
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